Footwear major Campus Activewear files draft papers with SEBI to collect funds through IPO.
- ByStartupStory | December 27, 2021
Footwear company Campus Activewear has filed preliminary papers to market regulator SEBI to gather funds through an initial public sale. The IPO is entirely an offer for sale (OFS) of 5.1 crore equity shares by promoters and existing shareholders, according to the draft red herring prospectus (DRHP). The 5.1 crore equity share is entirely an offer for sale by the promoters and investors.
Promoters hold 78.21 percent shareholding in the company, and the remaining 21.79 percent stake is held by TPG Growth III SF Pte Ltd (17.19 percent), and QRG Enterprises (3.86 percent). Promoters Hari Krishan Agarwal, and Nikhil Aggarwal cumulatively will sell 1.4 crore equity shares via offer for sale. Investors TPG Growth III SF Pte Ltd will offload 3 crore equity shares and QRG Enterprises 67 lakh shares. Among others Rajiv Goel, and Rajesh Kumar Gupta are going to sell 3 lakh shares via OFS.
The company is expected to grow at a CAGR of 21.6 percent during FY21-FY25 with approximately 15 percent market share in the branded sports and athleisure footwear industry in India by value for FY20, which increased to approximately 17 percent in FY21, as per the DRHP filing.
The money raised will go to selling shareholders, and the company will not receive any funds from the offer.
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